Gilead nears deal to buy Immunomedics for more than $20 billion: Report

Discussions between Gilead and Immunomedics were initially centered around a partnership before shifting to a full-fledged takeover negotiation

(Reuters) - Gilead Sciences Inc is nearing a deal to buy biopharmaceutical company Immunomedics Inc for more than $20 billion, the Wall Street Journal reported on Saturday, citing people familiar with the matter.

A deal for Immunomedics, which last month reported positive data from a late-stage study for its breast-cancer drug, could be announced Monday if not sooner, the Journal said https://www.wsj.com/articles/gilead-nears-deal-to-buy-immunomedics-for-more-than-20-billion-11599936777?mod=hp_lead_pos2.

Gilead and Immunomedics did not respond immediately to emailed requests from Reuters for comment.

 

(Reporting by Ismail Shakil in Bengaluru)